- (a) Upon the completion and submission to the division of a loan deferment request, on such form as provided by the division, and signed by the eligible borrower and the administrator of a qualified service, repayment of a loan shall be deferred for periods the division deems appropriate.
- (b) With sufficient justification, the division may determine that extraordinary circumstances exist which interfere with the eligible borrower’s ability to meet loan repayment, in which case the division may authorize a period of loan deferment.
- (c) In no case shall the loan repayment be deferred longer than five (5) years.
- (d) Upon cessation of a period of deferment, the eligible borrower must either seek forgiveness of the loan or loans or commence repayment.